The Green Climate Fund (GCF) has today signed an agreement with Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO) that will enable FMO to implement GCF funded low-emission and climate-resilient projects in developing countries, with a focus on the private sector.
FMO, accredited with GCF in October 2016, is the development bank of the Netherlands and is committed to increasing its green investments to at least 40 per cent by 2020. GCF will capitalise on FMO’s experience in mobilising and enabling the private sector in developing countries towards low-emission and climate-resilient investments.
Javier Manzanares, GCF Executive Director ad interim, stated, "Partnering with FMO increases the ability of the Green Climate Fund to support private sector climate investment in developing countries. FMO’s nimble approach and experience in mobilising funds will be invaluable to GCF’s Private Sector Facility as it accelerates private sector engagement to provide climate solutions."
Linda Broekhuizen, Chief Investment Officer of FMO, stated, "With the GCF partnership, FMO can provide blended finance solutions to accelerate far-reaching climate mitigation and adaptation projects that empower people in seizing opportunities to overcome climate change."
The signing of Accreditation Master Agreements (AMAs) is a prerequisite for all GCF Accredited Entities, such as FMO, to implement GCF projects.